A promissory note issued when receiving a time extension on an amount owed to a suppler would have which effect on the categories?
A)Total assets would be increased.
B)Total liabilities would be increased.
C)Owner's equity would be decreased.
D)None of these answers is correct.

Question

Quizplus · Accepted Answer

The Answer of A promissory note issued when receiving a time extension on an amount owed to a suppler would have which effect on the categories?
A)Total assets would be increased.
B)Total liabilities would be increased.
C)Owner's equity would be decreased.
D)None of these answers is correct.

A Promissory Note Issued When Receiving a Time Extension on an Amount